Euro / U.S. Dollar
Short
Updated

EUR/USD - Bears Continue to Dominate

381
Hello everyone, do you think EURUSD will rise or continue to fall?

The EUR/USD pair continues to face short-term selling pressure today, with the price recently forming significant resistance levels. At the time of writing, the pair is trading around 1.164.

This movement is largely driven by a combination of technical factors and market sentiment, especially concerns about the global economy, including inflation fears and rising U.S. Treasury yields. These factors have added further downward pressure on the EUR/USD pair.

As seen in the chart, the price is struggling to break the resistance but has been unsuccessful so far. The trendline remains intact, and the bearish momentum may continue. As long as the trendline is protected by the bears, the downward targets will accelerate, with the 1.160 level in sight.

What do you think? Will EUR/USD reverse, or will it continue heading towards the next support target? Let me know your thoughts!
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Trade closed: target reached

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